LO.4 & LO.5 (High-low method; flexible budget) Tijuana Tile has gathered the following information on its utility cost for the past six months. Machine Hours Utility Cost 1,300 1,700 1,250 1,800 1,900 1,500 $ 940 1,075 900 1,132 1,160 990 a. Using the high-low method, determine the cost formula for utility cost. b. Prepare a flexible budget with separate variable and fixed categories for utility cost at 1,325, 1,500, and 1,675 machine hours